Bill & Melinda Gates Foundation CEO Patty Stonesifer on Wednesday announced that she will be stepping down from her position by the end of the year, the New York Times reports. Stonesifer, who helped start the foundation in 1997 after leaving Microsoft, said that it is "the right time" to step down. She added that the foundation has "a lot of momentum now; our strategies are in place, and it's time to take the organization to the next level where we deliver on those strategies" (Strom, New York Times, 2/7). Stonesifer said she plans to help hire her successor and to remain with the foundation, the AP/Google.com reports. Her new job title has not been announced.

In a statement, Bill Gates said that Stonesifer "made our vision a reality, and I am deeply grateful to her." He added, "Her remarkable leadership and foresight has put into place an organization that is fully devoted and prepared to continue the work. This is a rare quality even in great leaders, and I am pleased that she is choosing to stay involved with the foundation" (Blankinship, AP/Google.com, 2/6).

According to the Times, Allan Golston, president of the foundation's U.S. programs, and Sylvia Mathews Burwell, head of the foundation's global development program, are possible candidates for Stonesifer's replacement. The foundation acknowledged the possible internal candidates but said it plans to do a full external search (New York Times, 2/7).